Liquidators assigned to charity in money-laundering probe
The High Court has appointed provisional liquidators to a charity at the centre of a garda investigation into money laundering.
The Charities Regulator has appointed provisional liquidators to a charity involved in a garda investigation into money laundering. The provisional liquidators, Shane McCarthy and Cormac O’Connor from KPMG, will oversee the charity, Liberties Recycling and Development Company limited, as part of a petition to wind it up. This move aims to secure the charity's assets and transfer them to another charity with a similar purpose, while ensuring support for vulnerable service users and employees.
The investigation stems from a garda money laundering probe that seized approximately €300,000 in assets, including two BMW X5 cars, Louis Vuitton bags, Rolex watches, and jewellery. The inquiry has been ongoing for some time, with gardaí conducting searches in Dublin and other regions last week. Sinn Féin, the political party associated with the charity, has confirmed that its TD, Aengus Ó Snodaigh, is the charity's chair.
They expressed support for the ongoing investigations by the gardaí and the Charities Regulator, stating that Ó Snodaigh has engaged with the regulator and will cooperate if required.
The Charities Regulator raised concerns about the charity's management, stating that there is no evidence of involvement by the trustees in the alleged activities, but the regulator believes the trustees have provided little effective management or oversight. The investigation will proceed, with a High Court hearing scheduled for November to determine the charity's fate.
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